£1m month recovery bonus

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A CHESTERFIELD company that was on the verge of insolvency 18 months ago has given its 100-plus employees a cash bonus after recording its first £1 million month.

Holmewood Industrial Park-based TM Acoustic technologies (TMAT) specialises in advanced acoustic and thermal protection for automotive, agricultural and construction equipment and includes Case, New Holland Tractors and JCB among its customers.

The company was rescued with support from corporate finance adviser Orbis Partners, turnaround specialist Advent Partners and Lloyds Commercial Finance.